San Diego-based business event management firm AlliedPRA has been sold to CI Capital Partners LLC, a New York-based private equity firm.
AlliedPRA was a portfolio company of Core Capital Partners, a United Kingdom-based private equity firm.
The company provides organizations putting on meetings, events, conferences and conventions with destination-specific services, such as transportation and activities.
“Since its founding over 30 years ago, AlliedPRA has become the leading destination management company in the United States,” said Tony Lorenz, CEO of AlliedPRA. “Together with CI Capital, we believe there is an opportunity to extend AlliedPRA’s scale and scope, creating more value for our customers in this critical area.”
Following the transaction, terms of which were not disclosed, the management team of AlliedPRA will continue to lead the company. The team has a “significant” equity ownership in the company, AlliedPRA said.
CI Capital, which manages about $2.4 billion in assets, has been investing in middle-market companies since 1993. The firm and its portfolio companies have made more than 230 acquisitions.